Selected Information Regarding a Company's Most Recent Quarter Follows (All

question 29

Multiple Choice

Selected information regarding a company's most recent quarter follows (all data in thousands) . $\begin{array}{|l|rr|}\hline \text { Operating expenses } & \$ & 700 \\\hline \text { Gross profit } & \$ & 2,390 \\\hline \text { Sales revenue } & \$ & 4,000 \\\hline \text { Ending finished goods inventory } & \$ & 200 \\\hline \text { Cost of goods manufactured } & \$ & 1,560 \\\hline\end{array}$
- What was the beginning finished goods inventory?

• A)$ 1,740
• B)$ 250
• C)$ 1,060
• D)$ 860

---

Definitions:

Randomized Block Design

A statistical experimental design that groups subjects into blocks based on certain attributes, then randomly assigns treatments within these blocks to control for variability.

Two-Tail

Pertaining to tests of statistical significance that consider both the upper and lower tails of the distribution to check for extreme values in either direction.

SSE

Sum of Squared Errors, a measure of the total deviation of response values from the fit values in statistical models.

SS(Total)

The total sum of squares in an analysis of variance, representing the total variation in the data.